Liberalización financiera, crisis y destrucción de la moneda nacional en Ecuador

Financial deregulation began in Ecuador during the 1980s, especially around 1986 with the relaxation of the interest rate structure and the development of new financial products, but after a period of gradual progress, the process culminated precipitously between 1992 and 1994. within a complicated and simultaneous effort of reforms on several fronts, which at that time was combined with a stabilization program with a nominal anchor in the exchange rate. This conflicting combination defined a series of challenges for economic policy, particularly with respect to the effectiveness of traditional monetary policy instruments, due to the impact of the growing dollarization of the economy and the vulnerability of the external sector exacerbated by its rapid liberalization. In this context, the initial credit boom (1993-94) showed early signs of tension and the potential for crisis contained in the new scheme. A first burst of the bubble in 1993 evidenced the financial fragility and the insufficiency of regulatory and supervisory frameworks, but many of the banks' problems could be concealed and deferred within a second min + boom in 1997-98.

• Auteur principal: Páez Pérez , Pedro (author)
• Format: article
• Langue: spa
• Publié: 2020
• Sujets: tasas de interés; productos financieros,
• Accès en ligne: https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/238